Currently wage cucking at a Fortune 500 company, making about 40k with overtime. Applying for a more legit role of Data Analyst at a big hospital which would probably bump me at least 5-10k.
I'm currently sitting on about $7k with no other debt besides about ~40k in student loans.
Question is, should I focus on paying off my student loan first or should I continue to make payments and invest in something else (Like mutual funds, IRA, something safe, I'm risk averse af). Currently renting but if I got the new job I'd probably buy a house. I live in a ridiculously cheap city.
pay off as much of your loan as you can per month, but always be putting something into investments, even if it's only like 5% of your income
do both such that you aren't eating spaghetti-o's for dinner every day
I'm putting about 8% into my 401k which has been making pretty good gains. I try to save at least 10% of my monthly pay because that's about all I can do right now with my current situation. But I'm wondering if I should have other investments right now and if so, which (thinking long term).
What is your student loan intrest?
I had some higher rate loans that I brute force paid, but what k have left is all very low interest so it makes less sense for me to pay them off faster with money I would otherwise invest.
>Question is, should I focus on paying off my student loan first or should I continue to make payments and invest in something else (Like mutual funds, IRA, something safe, I'm risk averse af). Currently renting but if I got the new job I'd probably buy a house. I live in a ridiculously cheap city.
>put money in savings
>pay off loans
>dont just eat spaghettie o's
If your a wage cuck its 2 of 3 of those, not all 3
it depends totally on what particular niche you put your money into.With all the stuff going on with china and the oil wars , nobody really seems to know what's going to happen globally.
My amateur advice; Currently, there's too much risk in anything related to oil. Do your research before you invest anywhere. Read like a madman. Buffet and Graham - the intelligent investor is a fine place to start.
http://www.gurufocus.com/news/225351/how-to-practice-valuation Is a decent read.